News Roundups

Fed faces a ‘major challenge’, Oil industry courts GenZ, and more

Daily stimulus and recovery news headlines from August 19, 2020.



Oil Industry Frets About Recruiting Its Next Generation of Workers

Two years out of college, Leah Sanders was making as much as $19,000 a month servicing oil wells in Kuwait. After getting laid off in May by oil-field services giant Schlumberger Ltd., she’s back with her parents in Tennessee, earning $15 an hour helping out at her father’s construction business. She recently began considering switching careers and going to law school.

“I don’t think it’s going to recover as fast as I hoped it would,” said Ms. Sanders, 24. “Do you want to wait and go back to something that you spent two years training in? Or do you want to start over?”

Read more

World's largest miner backs away from coal projects

The world's largest mining company is looking to reduce its exposure to coal as opposition to high-carbon energy sources takes hold.

BHP (BHPLF), which is based in Melbourne, Australia, said Tuesday that it will try to sell its 80% stake in the BHP Mitsui Coal joint venture, which owns two Queensland mines that produce lower-quality coking coal, which is used for steelmaking. It's also looking to offload its thermal coal assets in Australia and Colombia

Read more